Price Per Square Foot of Mississauga Condos
Buying and selling Mississauga condos based on price per square feet
Price per square foot is often mentioned when buying and selling high-rise condos anywhere in the world. Simply speaking, price per square foot (price psf) is the price of property divided by the size of the unit in feet. The square footage includes the walls out to the exterior of the building, and half-way to adjoining units. In Canada, price per square foot does not include balconies or terraces.
The price per square foot varies widely from one building to another building, and also within the same building. As of March 2017, on an average the price per square foot of resale market Mississauga condos and Square One condos range from $375 to $575 per square foot. This price is almost $50 to $75 more per square foot for builder new projects.
Why there is vast difference in prices of Mississauga and Square One condos? Here is why:
- Smaller sized condos sell for a higher price per square foot than larger sized condos.
- Condos with extra features such as extra parking space or extra lockers sell for a higher price per sq. ft. as compared to other exact models in the same building.
- The price per sq. ft. also depends on the view and floor level.
- It is not always true that condos on a higher floor command a premium price than condos on a lower floor in a resale condo market. This is unlike new builder condos where one pays premium for every floor as they go up.
- A view can make a huge amount of price difference per square foot.
- More than 50% Square One condos are investor owned. These investors come from both the GTA, outside provinces and overseas. These out of town investors at times choose Realtors who are not local experts in Square condo market hence they are sometimes unable to price properties correctly.
- One can also find “below market value deals” in the real estate market, including Square One condos. Local experts are adept at sniffing out those special deals that sell way lower than the average price per square foot. Contact us to learn more about Square One condo deals!
- And this one is a “no-brainer”: condos that show better, sell for more.